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Daisy buy-and-build strategy to continue despite losses

Alex Scroxton

Acquisitive UC services outfit Daisy Group has said it will continue to "target further synergistic opportunities" to grow the business through acquisitions, despite posting a hefty £14m post-tax loss in its most recent set of figures.

In a statement put out ahead of entering a new quiet period, Daisy said its results for the current financial period are expected to be in line with market expectations. Six month revenues for the period ended 30 September are due on 7 December 2010.

Daisy's two most recent acquisitions, Fone Logistics and MurphX Innovative Solutions, are now fully integrated into its mobile distribution and wholesale businesses respectively.

Daisy also revealed that non-executive director Ian Butcher, who joined in 2009 when Daisy acquired Eurotel in a pre-pack administration deal, is stepping down to concentrate on his property business.


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